8 Tactics To Become A Potential [$1bn] Unicorn

That Aren't Accessible Within Accelerators & Incubators

 

These tactics are for all those idea generators, who are dreaming of becoming a potential unicorn but need help to figure out how to fulfill it. 

The most common difficulty for business success is finding the best feasible opportunity!

We make decisions based on our experience and knowledge, and 90% of the time miss out on bigger opportunities. For example, the founders of a brilliant product idea for indoor air purification were sure that the relevant market context for their planning purposes was the indoor air purifier market. Accordingly, they spent 3 years developing a business plan in the context of the needs of that air purifier market but completely failed to notice a much larger and currently more relevant new market opportunity for ‘smart home automation’ that was developing.

Option 1, direct market: 20 players | $29B value size | 2%+ growth
Option 2, not- Direct market: 4 players | $130B value size | 17% growth

Completely different business outcomes in terms of competition, demand & business growth!

The better market potential, the quicker of gaining a head start market share, which is the first golden ticket for unicorn evaluation. 

Tactic 2# Narrow The Demand Segments For Your Idea

 

The next most common difficulty for business success is finding the best demand opportunity!​ About 73% of business ideas miss the best demand opportunity, because they don't dive into the demand segment. 

The KEY tactic here is attentiveness

There is a big difference between new business and established business , between new moms and experienced moms, regarding decision making and how attentive they are to your business proposal.  

 

For example – mothers. New mothers usually ask recommendations from other mothers regarding almost anything in daily life, but in the context of previous child experience, experienced mothers will always act according to their own previous experience. In the context of choosing a new product, experienced moms represent a range of 8.2%-25% conversion rate & new moms represent a range of 33%-100% conversion rates!

 

Completely different communication and completely different conversion rate!

Narrowing the demand segments help you improve ROI (return of investments) - a second golden ticket for a potential unicorn!

Tactic 3# Inspire For Best Creation Of Your Idea

 

Everything already exists. You just need to know what and where to look for to provide your best inspiration.

“If you can dream it, you can do it”!​

Most businesses are afraid to innovate, re-generate, change because they can’t really imagine what it will look like. One way to bridge the gap is to take inspiration from other contexts.

 

Walt Disney built the Disneyland theme park in the 1950s following inspiration from amusement parks. Today, the number of visitors to Disneyland since it opened is the largest in the world with more than 650 million visitors.

20% of the features can provide 80% of the sales! And also, 20% of the features can harm 80% of the sales! 
For example, in 2007 Microsoft decided to launch a premium operating software named Vista, at an investment of $500 million. The public and media had high expectations of this launch, with the forecast that at least 50% of existing Microsoft users would choose to use it within two years. Microsoft was so sure that the new technology would motivate existing and new users to use the software that they simply didn’t think whether it was worth examine features fit. The launch moment came and there were not many users. In analyzing the software version failure, it was found that there were steps in the software that were not intuitive
enough – even among Microsoft users.

“The difference between something good and something great is the attention to details”!

It's amazing how many times I have seen business products with the wrong branding...

 

Experimenting with branding simulations enables you to control and assess business details that could have been missed – ensuring the accuracy of the business details according to demand behavior insights! For example, developers prepared a web simulation for a legal gambling application. The big business opportunity for this application was with mediocre gamblers. Mediocre gamblers prefer poker games and slot machines, but the web simulation was mainly games of roulette and blackjack that matched only the preferences of heavy gamblers. 

Intuition can be misleading. 


We all know the Harry Potter series, the most successful fiction series of all time. We could have almost missed it. In 1996, 7 children’s literature editors in London received the first chapters of the Harry Potter story and didn’t want to publish it. Follow intuition, the 8th editor should have also agreed, but the difference was that he gave his 8-year-old daughter the chapters to read. He validates the product by giving it to the user to read. For the user, it was the most fascinating story she had ever read.

Tactic 7# Plan Bigger 

 

Small dreams – Small achievements. BIG dreams – BIG achievements!

 

The difference between founders with only small dreams and founders with big dreams is their mindset. We can ask ourselves: “Where can I find the investor who will invest the initial capital needed to take this product one step further”? BUT a successful founder will ask himself: “Where do I find smarter people than me to take this business with me several steps further”?

We can think: “I believe this product will be successful” BUT a successful founder will think: “How can this product be part of a whole range of successful products”?

Tactic 8# Do Marketing, Not Selling

 

In the case of great marketing, the point is not to see how many customers can get to know the product, but rather how many products can get to know the customers in order to influence them.

 

In 2013 Netflix conducted a survey in 16 countries around the world and discovered that

a) 73% of their streaming viewers enjoyed sequential binge viewing 

b) Most of their streaming viewers didn’t become addicted to the series in the first episode.

 

Netflix accordingly decided to distribute their original series all at once. All the new season’s chapters were available for immediate viewing. By doing that, Netflix influenced the consumption behavior and “helped” the viewers choose them over the alternative media.

 

Scroll down for a free pitch 

AUTHOR


Rinat Keinan

Senior Marketing Manager, Author, Entrepreneur, and Founder at The PIPELINE Tools. 

Rinat Keinan holds an M.Des in industrial design and has 12 years of experience in the field as a Marketing Manager for global leading brands with high achievement awards for business & strategy success, in various marketing positions.

Her pipeline guide was highly evaluated by a worldwide leading feminine 1 million entrepreneurs organization as “essential read for the idea generators- wanting to transform their idea into reality”

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